Philosophical theories on the nature and origins of morality (that is, theories of meta-ethics) are broadly divided into two classes: Moral realism is the class of theories which hold that there are true moral statements that report objective moral facts.
As an S corporation, no corporate income tax would be levied. And when the income gets allocated to individual shareholders, they will probably pay a maximum rate of 40% to 44%. So that would mean around $400,000 to $440,000 in income taxes and then about $600,000 in leftover after tax profit.
S corporations Are Subject to Franchise Tax, But Not Corporate Tax. If you meet the federal tax law requirements to operate as an S corporation, the IRS allows your business to pass through its income to the shareholders. This means that your business will not pay any IRS corporate level income tax.However, you'll have to claim your entire share of the business income on your personal federal income tax return even if you did not take any money out of the business.he amount of tax varies based upon the business entity, but all entities that do business in California are subject to a $800 minimum taxâeven if they have no net income for the year. All C corporations are required to pay an annual corporate tax of 8.84 percent on the net income generated in California.